News / Invepar planning to launch $900 million IPO

Invepar planning to launch $900 million IPO

🕔 October 14, 2013
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Reuters has informed that Brazilian infrastructure group, Investimentos e Participacoes em Infraestrutura (Invepar), is planning a BR$2 billion (US$908 million) initial public offering that may launch at the end of January and price in early February.

Rio de Janeiro-based Invepar is controlled by Petros, the Petrobras employee pension fund workers, along with Previ, the employee pension fund of state-owned Banco do Brasil and Funcef, the state-owned bank Caixa Economica Federal.

Last year, Invepar won the concession to run the Sao Paulo international airport offering US$9.4 billion. In May, the company won a concession to develop Porto Maravilha light rail, in Rio de Janeiro. The company also owns the right to operate the Rio de Janeiro subway system,  and several toll roads.

Bank of America Merrill Lynch, Banco do Brasil, BTG Pactual, Bradesco, Citi, HSBC and Itau have been mandated to prepare the listing.

There have been 19 equity issues in Brazil this year, for a total of US$9.9 billion. Five of them were IPOs.

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